Angel Oak Mortgage REIT (NYSE:AOMR) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Angel Oak Mortgage REIT from “sell” to “hold.” Other analysts remain mixed, resulting in a consensus “Moderate Buy” rating and an average price target of $10.06.
• AOMR shares opened at $9.02, up 1.6%, with a market capitalization of approximately $209 million. The stock has traded between $7.95 and $10.14 over the past year.
• The company reported quarterly EPS of $0.18, below the $0.30 analyst consensus, while revenue of negative $2.20 million also missed expectations. Institutional investors and hedge funds own approximately 80.15% of the shares.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other research firms have also weighed in on AOMR. Wells Fargo & Company cut their target price on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday. Weiss Ratings raised shares of Angel Oak Mortgage REIT from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. BTIG Research reduced their price objective on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, June 17th. Finally, JonesTrading reaffirmed a "buy" rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $10.06.

Angel Oak Mortgage REIT Trading Up 1.6%

AOMR opened at $9.02 on Friday. The business has a fifty day moving average price of $8.76 and a 200 day moving average price of $8.69. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 13.09. Angel Oak Mortgage REIT has a 12 month low of $7.95 and a 12 month high of $10.14. The stock has a market capitalization of $209.44 million, a price-to-earnings ratio of 12.03 and a beta of 1.25.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.12). The company had revenue of ($2.20) million during the quarter, compared to analyst estimates of $11.14 million. Angel Oak Mortgage REIT had a net margin of 11.85% and a return on equity of 7.74%. Sell-side analysts expect that Angel Oak Mortgage REIT will post 1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AOMR. BlackRock Inc. purchased a new position in Angel Oak Mortgage REIT in the second quarter valued at approximately $12,210,000. Deutsche Bank AG purchased a new stake in shares of Angel Oak Mortgage REIT during the 2nd quarter worth approximately $141,000. Bank of New York Mellon Corp purchased a new stake in shares of Angel Oak Mortgage REIT during the 2nd quarter worth approximately $485,000. State of Wyoming acquired a new position in shares of Angel Oak Mortgage REIT in the 2nd quarter valued at $213,000. Finally, Bank of America Corp DE boosted its holdings in shares of Angel Oak Mortgage REIT by 23.1% in the 1st quarter. Bank of America Corp DE now owns 11,490 shares of the company's stock valued at $94,000 after buying an additional 2,155 shares in the last quarter. 80.15% of the stock is owned by institutional investors and hedge funds.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc NYSE: AOMR is a real estate investment trust that specializes in a diversified portfolio of residential mortgage assets. The company primarily invests in non-agency residential mortgage-backed securities (RMBS), residential whole loans and credit risk transfer securities issued by government-sponsored enterprises. By focusing on these structured credit instruments, Angel Oak Mortgage REIT seeks to generate attractive risk-adjusted returns through a combination of net interest income and potential capital appreciation.

The firm employs leverage through repurchase financing facilities and actively manages duration and credit exposure to adapt to changing market conditions.

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